While housing markets in some parts of the country are finally starting to cool, Montgomery County is only getting hotter, with homes frequently selling before they even get listed publicly, writes Ryan Mulligan for the Philadelphia Business Journal.
Robin Gordon of Berkshire Hathaway HomeServices and her team, the Robin Gordon Group, kicked off the year with record-breaking first-quarter volumes. Of the roughly $100 million in sales the team generated through the end of March, about a quarter of them were through off-market deals.
Recently, Gordon had a home in Wynnewood the owners wanted to list for $2.25 million. After a few showings to prospective buyers, the property sparked an “exploding offer” of $2.45 million, which was a 9 percent premium over the asking price.
Gordon explained that selling a home off-market requires what she calls a “bully offer” – one that ensures that the seller does not feel restricted from marketing the property to a wider pool of buyers. This means that a prospective buyer has to offer an amount significantly above the asking price while also agreeing to terms that appeal to the seller, such as waiving inspections or taking on some closing costs.
Read more about the housing market in Wynnewood and along the Main Line in the Philadelphia Business Journal.
